FT is not responsible for any use of content by you outside its scope as stated in the. The high level of interest has allowed us to complete the A$20.4-million placement with A$8.7-million of the funds coming from our major shareholders, Mark Creasy and IGO. We aim to bring you long-term focused analysis driven by fundamental data. Lets take a look at what Galileo Mining announced today. The Motley Fool Australia has no position in any of the stocks mentioned. We respectfully acknowledge the Traditional Custodians of the land where we live and work and pay our respects to all Elders, past and present, of all Aboriginal and Torres Strait Islander nations. This article contains general investment advice only (under AFSL 400691). The past revenue trajectory (shown below) can be an indication of future growth, but there are no guarantees. Terms of use. On Legends Top 20 shareholder list Creasy Group is at the top with a 26.66% holding in Legend while IGO Ltd is second with a 14.12% stake. We use cookies to personalise content and ads, to provide social media features and to analyse our traffic. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. Email advertising@creamermedia.co.za, Barloworld Equipment~Booyco Electronics~Immersive Technologies~Integrated Pump Rental~Integrated Pump Technology~Multotec~Sandvik~SSG Consulting ~Trafo Power Solutions~Weir Minerals Africa, barloworld-equipment-2021-07-20~booyco-electronics-2021-06-07~immersive-technologies-2019-04-01~integrated-pump-rental-2019-12-09~integrated-pump-technology-2019-12-12~multotec-2021-02-03~sandvik-2022-08-29~ssg-consulting-project-management-2014-05-19~trafo-power-solutions-2022-12-13~weir-minerals-africa-2020-11-23, Creamer Media Senior Deputy Editor: Australasia, Sign up for our FREE daily email newsletter. Strong support for the placement validates the company's strategy of striving to replicate the success of Creasy Group and IGO in the prolific Fraser Range. Please sign in or register. See historical performance and comparison, Metals and Mining Industry Average Movement. Monica completed a cadetship in 2013. The billionaire prospector extraordinaire is credited with Contact Details: Galileo Mining's significant individual investors ownership suggests that the key decisions are influenced by shareholders from the larger public, A total of 6 investors have a majority stake in the company with 50% ownership, Using data from company's past performance alongside ownership research, one can better assess the future performance of a company. Legends Mark Wilson (centre) with Mark Creasy (left) and IGOs Peter Bradford, Legend Mining plans RC drilling to test new targets on extended Mawson footprint, Legend Mining kicks off 3,000-metre RC drilling program at Mawson on Fraser Range, Emyria progresses pivotal EMD-RX5 Phase 3 trial for treatment of psychological distress, Element 25 progresses staged development plan for Butcherbird to cater for current and new manganese markets, Flynn Gold in midst of exploration at Trafalgar gold discovery in Tasmania, Africa Oil is a full-cycle upstream oil and gas company with producing assets, Metas Mark Zuckerberg: Facebook founder is failing to keep up with the times, ChatGPT back online in Italy after implementing privacy measures, Flynn Gold appoints chief executive officer Neil Marston as managing director, Impact Minerals raises $4 million; goes full steam ahead with Lake Hope HPA Project in WA, Element 25 and car giant Stellantis extend key offtake and funding dates, Emyria completes $2.5M placement to advance MDMA-assisted therapy, 88 Energy: Unlocking potential on Alaska's North Slope, Thor Energy well placed to leverage off its uranium and energy metals projects, Strata Investment to focus on natural resources opportunities, MGC Pharmaceuticals to accelerate clinical pipeline development, ioneer's Rhyolite Ridge lithium-boron project in US poised to take advantage of global shift toward sustainable energy solutions, Imugene ends June 2021 quarter with $29.5m cash balance and strong focus on research and development, Venture Minerals Ltd on track to unlock potential of one of the worlds largest tin deposits, Australian Strategic Materials advances towards production at Korean Metals Plant in second half 2021, Antipa Minerals advances two-pronged approach to gold-copper development in Paterson Province, Queensland Pacific Metals advances financing for its 'green' Townsville Energy Chemicals Hub Project, Nvidias contradictory relationship with crypto mining, SPAC to square one: The boom and bust of the blank cheque market. The energy sector lifted the market to a green finish today, with all four of the, Perenti (ASX:PRN) has secured a new five-year contract with mining giant and NYSE-listed Newmont at the, Almonty (ASX:AII) has continued construction works at its Sangdong tungsten mine in South Korea, with the, Peak Rare Earths (ASX:PEK) has tapped investors for $27.5 million to develop its Ngualla rare earth, Be the first with the news that moves the market, Arcadia Minerals (ASX:AM7) strikes sulphide copper and gold at Gamikaub, Namibia, Australian Strategic Materials (ASX:ASM) strikes feedstock supply deal with Vietnam Rare Earth Company, Santos (ASX:STO) faces fresh delay over sale of 5pc stake in PNG LNG project, Triton Minerals (ASX:TON) pockets $5m Shandong Yulong investment for Ancuabe graphite project, Everest Metals (ASX:EMC) finds fresh pegmatite targets through geophysical survey at Mt Edon, WA, Halo Food Co (ASX:HLF) secures multi-million dollar deal with Fonterra, ROOTS SUSTAINABLE AGRICULTURAL TECHNOLOGIES LTD, Galileo Mining (GAL) raises $20.4 million for the Callisto palladium-nickel discovery within the Norseman project in WA, The placement closed oversubscribed with cornerstone investments by major shareholders Mark Creasy and IGO, Galileo Mining is using the funds to expand drilling at the new discovery and for drilling at the Mission Sill and Jimberlana prospects, The placement will increase Galileos total cash balance to around $26.5 million, Galileo is up 1.13 per cent and trading at $1.31 per share at 11:22 am AEST. April 28, 2023 | Monica O'Shea. Brooke Cooper, April 30, 2023 | This suggests that some funds have the company in their sights, but many have not yet bought shares in it. This may not be consistent with full year annual report figures. Email: [emailprotected] Legendary explorer Mark Creasy is Galileo Minings biggest shareholder with nearly 25 per cent of the company. Galileo Mining has amarket capitalisationof about $81 million. James Mickleboro. WebGet detailed information on GALILEO MINING LTD (GAL.AX) including stock quotes, financial news, historical charts, company background, company fundamentals, company financials, insider trades, annual reports and historical prices in the Company Factsheet. Creasys Nova-Bollinger discovery helped start what is known as the Great Nickel Rush on Fraser Range. IGO has reported EBITDA of $533 million and net profit after tax of $412 million for the March quarter. Some 170-million shares will be placed, at a price of A$1.20 a share under Galileos existing placement capacity. Galileo Mining is an ASX-listed company (ASX: GAL) focussed on the discovery of base metals in Western Australia. See our latest analysis for Galileo Mining. Galileo noted it also has multiple targets at the companys Jimberlana and Mission Sill prospects, providing the opportunity for more discoveries. All Rights Reserved - Proactive Australia PTY LTD ACN:132787654 ABN:19132787654. Legend Mining Ltd (ASX:LEG) managing director Mark Wilson brings Proactive up to speed on a mission to test the Octagonal prospects most exciting diamond drill targets. Sometimes insiders have an interest in a public company through a holding in a private company, rather than in their own capacity as an individual. Two nickel-copper sulphide target areas are on the radar for this initial campaign, representing the most compelling Only registered members can use this feature. The placement closed oversubscribed with cornerstone investments of $8.7 million by major shareholders Mark Creasy and IGO. To get a sense of who is truly in control of Galileo Mining Ltd (ASX:GAL), it is important to understand the ownership structure of the business. Any advice contained in this website is general advice only and has been prepared without considering your objectives, financial situation or needs. We note that hedge funds don't have a meaningful investment in Galileo Mining. Select your default regional edition of MiningWeekly.com. Australian Gold Resources Pty. This setting is controlled by cookies and should your cookies be re-set you will then be directed to the regional edition associated with the geographic location of our IP address. Galileo Mining Ltd engages in the exploration of mineral deposits in Western Australia. 337927). Share Registry. With over 5 km of strike length at the Callisto discovery, and highly prospective targets at the Jimberlana and Mission Sill prospects, the potential for additional mineralisation is very high, said Underwood. EMAILTHISARTICLE. These audience insights are used to make our website more relevant. Mr Creasy continues to be the largest shareholder, controlling approximately 27.5 percent of the The morning catch up: Markets finish April on a high ahead of rate Legend Mining eclipses nominal 2021 budget by completing 11,000 Legend Mining welcomes major shareholder support in Legend Mining lauds decade in the making drill program at Octagonal. Galileo expects to begin a third RC program at the end of this month and will be followed by diamond drilling in August. Stable Share Price: GAL is more volatile than 75% of Australian stocks over the past 3 months, typically moving +/- 12% a week. We also share information about your use of our site with our social media, advertising and analytics partners who may combine it with other information that youve provided to them or that theyve collected from your use of their services. Shareholder Info Top 20 Shareholders About the Data Shareholder Distribution As reported in the most recent Annual Report. We can see that individual investors own the lion's share in the company with 44% ownership. Galileo Mining Ltd (ASX:GAL) s Brad Underwood speaks with Proactive s Elisha Newell about the $20.4 million the company has just raised to accelerate its exploration programs across its assets as it looks to aggressively explore the significant new palladium province within its Norseman Project area. WebName No. Join our flagship membership service, Share Advisor. Goldman Sachs says these are the lithium shares to buy due to a 'game changing' technology. The Top 20 Shareholders of GAL hold 0% of shares on issue. As reported in the most recent Annual Report. A substantial shareholder is a person or entity that owns 5% or more of the voting shares in a company. Shares can be held through multiple entities, so the Substantial Shareholders list differs from the Top 20 Shareholders list. You can do it. Why did the NAB share price smash the ASX 200 in April? Australian Gold Resources Pty. Automic Group Level 5, 191 St Georges Terrace Perth WA 6000 P: 1300 288 644 (within Australia) The Motley Fool has a disclosure policy. This represents an interest of 26.35%. WebInsider Buying: GAL insiders have bought more shares than they have sold in the past 3 months. The Company's flagship projects are the Norseman and Fraser Range projects. Strictly necessary cookies relate to our hosting environment, and functional cookies are used to facilitate social logins, social sharing and rich-media content embeds. Advertising on MiningWeekly.com is an effective way to build and consolidate a company's profile among clients and prospective clients. The Motley Fool Australia operates under AFSL 400691. The company explores for cobalt, nickel, lithium, and copper, as well as nickel sulphides. We note that hedge funds don't have a meaningful investment in Galileo Mining. In particular, the content does not constitute any form of advice, recommendation, representation, endorsement or arrangement by FT and is not intended to be relied upon by users in making (or refraining from making) any specific investment or other decisions. Overview Share price information may be rounded up/down and therefore not entirely accurate. Get Started Investing Ltd. is currently the company's largest shareholder with 21% of shares outstanding. The general public, who are usually individual investors, hold a 44% stake in Galileo Mining. PERTH (miningweekly.com) Junior Galileo Mining will raise A$20.4-million in a share placement to sophisticated and institutional investors to fund exploration work at its Callisto palladium/nickel discovery, in Western Australia. Founded in 1993 by brothers Tom and David Gardner, The Motley Fool helps millions of people attain financial freedom through our website, podcasts, books, newspaper column, radio show, and premium investing services. This lithium giant could still have room to climb higher from current levels according to one broker. This can be negative in some circumstances. It holds a 100% interest in the Norseman project that covers an area of 306 square kilometers located to the town of Norseman; and 67% interest Fraser Range Project covering an area of 602 square kilometers situated in the Albany-Fraser Orogen. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. Galileo is exploring its 100% owned Norseman project in Western Australia. Shares in the base metals explorer are skyrocketing today. Our friendly customer service team will happily get back to you as soon as they can. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. PERTH (miningweekly.com) Junior Galileo Mining will raise A$20.4-million in a share placement to sophisticated and institutional investors to fund exploration work at Webshareholders including Mark Creasy (approximately 31%), Independence Group (4.9%) and Chris Ellison (4.2%). Legend Mining continues evolution of the Mawson story with more massive sulphides intersected. In their own names, insiders own AU$12m worth of stock in the AU$155m company. The Company is engaged in the development and exploration of cobalt, nickel laterite and nickel-copper-cobalt sulphide projects in Western Australia. According to a change of substantial holding notice, Mark Creasy has increased his stake by 3 million shares to 44,371,895 shares. The Company is engaged in the development and exploration of cobalt, nickel laterite and nickel-copper Galileo has Legend Mining Limited's (ASX:LEG) two major shareholders remain fellow Fraser Range players Creasy Group and IGO Ltd (ASX:IGO) (OTCMKTS:IPGDF) following the company's recent $20 million capital raising. Substantial Shareholders A substantial shareholder is a person or entity that owns 5% or more of the voting shares in a company. Currency figures normalised to Galileo Mining Ltd's reporting currency: Australian Dollar AUD, Create detailed alerts and get notified the moment an event happens, See how trades would have performed from years past or start from the present, Download PDF copies of reports from the newspaper markets data page, View the performance of global markets and browse news items by region, Find companies based on country, sector, and other equity characteristics, View funds that move the market, screen for funds and read relevant news, All markets data located on FT.com is subject to the. You must be a registered user to save alerts. Our data indicates that Private Companies hold 30%, of the company's shares. While it's hard to draw any broad stroke conclusions, it is worth noting as an area for further research. Jul 4, 2022 Anthony Macdonald, We use this information to make our site faster, more relevant and improve the navigation for all users. Click on the button below to clear your default MiningWeekly.com regional edition. Creamer Media Senior Deputy Editor: Australasia, ARTICLE ENQUIRY The Norseman project consists of granted exploration licences and is prospective for cobalt and nickel. If you would prefer check out another company -- one with potentially superior financials -- then do not miss this free list of interesting companies, backed by strong financial data. We offer a variety of subscriptions to our Magazine, Website, PDF Reports and our photo library. Meanwhile, private companies make up 30% of the companys shareholders. separate emails by commas, maximum limit of 4 addresses, 6th July 2022 Legend Mining prepares to test most exciting diamond drill Legend Mining talks Octagonal prospect potential at Rockford. Institutional investors commonly compare their own returns to the returns of a commonly followed index. Legend Mining doubles down on seismic survey for Rockford Project, Astro Resources delivers 50% increase in indicated resources at Fe Limited continues operation ramp-up at JWD Iron Ore Project; South Harz Potash well positioned as global economic and political Emyria initiates pre-clinical studies for MDMA-inspired analogues. We note that hedge funds don't have a meaningful investment in Galileo Mining. This discovery is being mined by successful nickel-copper-gold-zinc-silver producer IGO Group which also has interests in other companies active in the region. See our Cookie Policy for more information. Postal Address: PO Box 415 West Perth WA 6872 P: +61 (0) 8 9324 2099 F: +61 (0) 8 9321 2337 E: info@galileomining.com.au W: www.galileomining.com.au. Profile data is unavailable for this security. Data delayed 15 minutes unless otherwise indicated. Advertising Cookies collect information about your browsing habits such as the pages you visit and links you follow. We look forward to updating the market with results from this exciting new West Australian discovery., Edited by: Creamer Media Reporter EMAIL THIS ARTICLE SAVE THIS ARTICLE Return vs Industry: GAL exceeded the Australian Metals and Mining industry which returned -7.6% over the past year. For perspective, the S&P/ASX 200 Materials Index (ASX: XMJ) has fallen 7% in a year. 2010 - 2023 The Motley Fool Australia Pty Ltd. All rights reserved. IGO and mining billionaire Mark Creasy are expected to cornerstone WA cobalt and nickel explorer Galileo Minings share placement. Join A Paid User Research SessionYoull receive a US$30 Amazon Gift card for 1 hour of your time while helping us build better investing tools for the individual investors like yourself. Sign Up for Take Stock Listen to Our Podcast This may be a strategic interest and the two companies may have related business interests. The above has been published by Proactive Investors Limited (the "Company") on its website and is made available subject to the terms and conditions of use of its website (see Sign up to receive alerts and news direct to your inbox. Please remember that investments can go up and down. Simply Wall Street Pty Ltd (ACN 600 056 611), is a Corporate Authorised Representative (Authorised Representative Number: 467183) of Sanlam Private Wealth Pty Ltd (AFSL No. The Company holds interest in the FSZ Resources Pty Ltd, NSZ Resources Pty Ltd, and the mining tenements that comprise the Norseman project. May 1, 2023 | With over five kilometres of strike length at the Callisto discovery, and highly prospective targets at the Jimberlana and Mission Sill prospects, the potential for additional mineralisation is very high, he said. Data as of May 01 2023. Galileo Mining (GAL) has received firm commitments to raise $20.4 million for the Callisto palladium-nickel discovery within the Norseman project in WA. For story tips and broker tips, email me at, By clicking this button, you agree to our, Galileo Mining share price explodes 150% on major discovery, How Id generate $400 in monthly passive income from 2 ASX 200 iron ore shares. Let's find out. Galileo Mining Ltd is an Australia-based mining and exploration company. Company Buyback. Taking note of what the big end of town is doing can provide insights for ordinary ASX shares investors. She also hold a B.Science (Biotechnology) with Honours from the University of Adelaide.Monica has worked in government at the local, state and federal level. Alternatively, email editorial-team (at) simplywallst.com.This article by Simply Wall St is general in nature. Past performance is not necessarily indicative of future returns. However, high insider ownership can also give immense power to a small group within the company. GALILEO MINING LTD : Forcasts, revenue, earnings, analysts expectations, ratios for GALILEO MINING LTD Stock | GAL | AU0000007510 Galileo Mining (ASX: GAL) latest news, share price, company information, stock chart and announcements on Australia's #1 site for investors, Small Caps. As far as we can tell there isn't analyst coverage of the company, so it is probably flying under the radar. NB: Figures in this article are calculated using data from the last twelve months, which refer to the 12-month period ending on the last date of the month the financial statement is dated. When multiple institutional investors want to buy shares, we often see a rising share price. SAVE THIS ARTICLE WebInsiders were net buyers of Galileo Mining Ltd's ( ASX:GAL ) stock during the past year. All content on FT.com is for your general information and use only and is not intended to address your particular requirements. In terms of relative price strength the Galileo Mining share price has Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Funds will be used to expand drilling at the new discovery, testing the five-kilometre prospective strike length, as well as drilling at the Mission Sill and Jimberlana prospects. Australian Financial Services Licence (AFSL): 400691, The Motley Fool Australia, PO Box 104, Isle of Capri, Qld 4217.

Things To Do In Fort Pierce This Weekend, Dr Thompson Plastic Surgeon, Articles G